Tag
STANBIC IBTC PURCHASING MANAGERS’ INDEX
Business confidence in Nigeria has declined sharply due to the impact of naira devaluation and the removal of fuel subsidies, a new report by Standard Bank’s Africa Trade Barometer has revealed.
Nigeria’s Purchasing Managers’ Index (PMI) saw a marginal uptick in August rising from 49.2 to 49.9 on the back signalling a slight improvement in business conditions but renewed inflationary pressures continue to hinder growth of businesses.